Boat Finance Repayment Calculator

What does the typical boat finance repayment look like?

The average boat finance repayment for a loan taken out through Savvy is $1,787 per month. That’s based on an average loan amount of $77,751, average interest rate of 13.44% p.a. and average loan term of 5.4 years (rounded down to 5.0 for the sake of this calculation) for all finance deals approved in 2025.

However, there are several factors that help determine what you’ll end up paying each week, fortnight or month for your boat loan. Here’s how each of the calculator’s variables impacts your repayments:

• Loan size: of course, how much you’re borrowing will have a major impact on your repayments. A $100,000 boat will naturally set you back more than a $40,000 boat over the same term length.
• Term length: opting for a longer loan term means your repayments will be lower, but the loan itself will cost more. A $50,000 loan at 9.50% p.a. would cost $1,050 per month and $13,006 in interest over five years, but $914 and $15,789 over six years.
• Interest rate: the higher your rate, the more you’ll pay. As mentioned, a $50,000, five-year loan at 9.50% p.a. costs $1,050 per month, but $1,075 per month at 10.50% p.a.
• Repayment frequency: there’s actually a small difference in the overall cost of loans paid weekly, fortnightly and monthly. The same $50,000, five-year, 9.50% p.a. loan would cost around $150 more if paid on a monthly basis compared to weekly.

How can I find out what boat finance rate I’ll get?

As mentioned, the average interest rate for boat loans approved through Savvy in the 2025 calendar year was 13.44%. The simplest way to find out your rate is to apply through us. We’ll take a look at your profile, the boat you’re after and how much you want to borrow and find the best deal available from our panel of lenders. That includes an indicative interest rate based on factors specific to you.

You can also obtain a rate directly from a lender by applying for boat loan pre-approval, which is a conditional approval prior to your formal application being submitted. Pre-approval can be very useful in giving you an idea of how much you’ll be able to borrow and your rate. However, this may be recorded on your credit file with a hard touch enquiry. Applying through Savvy means you can receive this information without your credit file or score being impacted (via a soft touch enquiry).